to create a long term lasting impression with potential customers
Why Run a Pop-Up?
Merchants both small and large are flocking to set-up their own pop-up stores and are embracing the trend, from brands that sell exclusively online to big brands like Nike, proving that pop-ups are here to stay. But before we get started in helping you on your journey, let’s first discuss perhaps the most important thing.
What is a Pop-Up Shop?
A “pop-up shop” is a short-term, temporary retail event that is "here today, gone tomorrow". Pop-up retail is the temporary use of physical space to create a long term, lasting impression with potential customers. A pop-up shop allows you to communicate your brand’s promise to your customers through the use of a unique and engaging physical environment while creating an immersive shopping experience.
Now that we’ve got the definition out of the way, let’s talk about some of the benefits of doing a pop-up shop.
What are the benefits to doing a pop-up?
Each brand will have different goals and outcomes that they’ll expect to accomplish through doing a pop-up, or wish to experience different benefits from selling through them.
Here are seven key benefits that will motivate you to consider doing one.
1. Test a New Revenue Stream
If you're an ecommerce business, pop-up shops provide a relatively low-cost way to explore adding an additional revenue stream. Not only is it a fraction of what you'd pay for an actual physical retail location, if the concept is executed and popularized well, you could rake in a significant profit.
2. Engage Customers Offline
You've heard it before, but not being able to try on a product before purchasing can be a very real pain point. To be honest, there’s just something about being able to physically touch a product before you buy which makes the shopping experience very enticing for consumers. To further validate the idea, a recent study by Accenture showed that 78% of shoppers are “webrooming” (browsing online, then purchasing in a store) today.
3. Create “Get It While It Lasts” Urgency
The beauty of a pop-up shop is that it's a limited window of time for consumers to engage with your brand and purchase your products. The idea that you're not going to be around for long is a huge plus point in getting customers to buy. Scarcity drives action through customers wanting exclusive, limited edition, or other products they can't get otherwise, and a pop-up shop puts you in a perfect position to take advantage.
4. Market Merchandise Around a Sale, Season, or Holiday
There's nothing like jumping on the holiday bandwagon, especially when you factor in how much people spend on their loved ones. It doesn't matter if you're looking to sell dresses for New Years, flowers on Valentines, costumes on Halloween, or kitchenware on Thanksgiving, tying your brand closely with a holiday and giving consumers a physical location to access you is a great way to be opportunistic and make a significant amount of cash.
5. Educate New Customers
When you’re trying to sell a crazy new invention that hasn’t crossed over into the mass consumer subconscious, a pop-up shop can help you understand how your existing marketing collateral performs with actual customers while getting real-time feedback on how it can be improved. Even if you’re just looking to drive pre-orders before going full throttle on manufacturing, giving your potential customers a live demo or walking them through how your product works is a great way to get through to those early adopters.
Another scenario is when you've got a product that makes people scratch their heads, like beard oil for urban beardsmen, or plastic wrap alternatives made out of beeswax, pop-ups can be an effective way to demonstrate the value of your product and get people intrigued enough to either become customers on the spot or solid prospects.
6. Go to Where Your Customers Are
This is an especially strong reason to do a pop-up shop when you've perhaps had some experience selling online and have a good idea of your customer profile that allows you to identify the areas or locations that they're most likely to frequent. The benefit of being able to select a certain side street, kiosk, or vacant gallery space is that you can match your wares with the personality of a given demographic and go to where they go.
7. Generate Brand Awareness
Let's face it, the competition to market and sell online is become just as stiff as offline retailing. Which is why having a one-two punch approach is where the entire retail industry is heading through an omultichannel presence. By engaging prospective customers offline and delighting them with an unforgettable experience and quality products, you can then point them to your online site and social accounts, where they can stay in touch and continue to buy your wares.
What Are Your Pop-Up Goals?
Different sized brands will have different goals for doing a pop-up, however, they typically tend to fall into the three big buckets of:
Revenue Generation
Brand Awareness
Customer Engagement
Not to say that you couldn’t have all three goals to aspire for, however, it is important to clarify your primary goal as that will dictate how you make decisions around aspects of your retail store design and promotion strategy. Several well-known brands will do a pop-up for the sole purpose of surprising and delighting prospective customers to capture a larger share-of-mind when it comes to their brand’s positioning, whereas smaller brands want to see if they can sell their wares in retail and get feedback on their brand, shopping experience, and determine which products are winners and which will never sell.
Some questions you can ask yourself to help determine which goals work best for you, consider the following:
Are you launching a brand for the first time?
Are you announcing a new product line within an existing brand?
Are you flushing out the current season's inventory to make room for new merchandise?
Are you interested in testing new geographic regions in which to establish your brand?
Are you a highly established brand interested in marketing and customer appreciation?
Budgeting for Your Pop-Up Shop
Having a clear and articulate budget for your pop-up store is a critical and vital step which will help you determine some of the most important components when it comes to doing a pop-up. For example, you’ll know how much you can afford for rent which will determine which locations and properties are worth your while to scout and inquire about, or how much you can spend on designing the interior of your store, or marketing your pop-up for that matter. Here's a few items that you'll definitely want to factor in when creating your budge
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What is a Pop-Up Shop?
Whether you hear temporary retail, flash retailing, pop-up store, or pop-up shop, it is all one and the same. Pop-up shops are taking over the retail world and rethinking traditional brick-and-mortar and big-box stores, but what exactly is a shop that pops up?
Sighted as early as the 1990s in large urban cities such as Tokyo, London, Los Angeles and New York City, pop-up shops and pop-up retail are temporary retail spaces that sell merchandise of any kind. That’s right, just about every consumer product has been sold via a pop-up shop at one point in time. From art to fashion to tech gadgets and food, pop-ups are exciting because they create short-term stores that are just about as creative as they are engaging. And they come in all shapes and sizes.
Specific Details:
Term: typically a 3 days to 3 months.
Location: high foot traffic areas such as city centers, malls, and busy streets.
Price: much lower than a traditional store, typically paid upfront.
Use: launch new product, generate awareness, move inventory, vet idea, increase ‘cool’ factor.
What are the benefits of a pop-up shop?
Connect with customers: The pop-up retail format allows you to personally get to know your customers and build stronger relationships.
Sell more: About 95% of all purchases are still completed offline. This is your opportunity to take advantage of the retail channel.
Build awareness: Consumers and the media love the excitement generated by pop-up shops. Build awareness by going offline!
It’s cheaper: Launching a pop-up shop is 80% cheaper than a traditional retail store
Test new markets: Easily enter a new market and launch new products
So, who can start pop-up shop?
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The short answer is everyone. Big-name brands, including eBay, Target, JCPenney, and Gap, have tested hosting pop-up products in their stores. At the same time, local artists, makers and fashion designers have also become increasingly popular in the Pop-Up scene. Even mobile trucks for food, designer fashion and vintage housewares have been spotted around cities like New York City, San Francisco, and Los Angeles.
Where to find a space for a Pop-Up Store?
Right here ! Thanks to Storefront, you can now find the perfect short-term space in 3 clicks. Lofts, retail spaces, apartments, Malls… you’ll find all space types on www.thestorefront.com from $50 a day.
Can you remember the time when Storefront did not exist? You spent months and months looking for spaces, expensive ones… Not, it’s something you can do over the lunch time.
Just go to Storefront’s website, look for your market and location, and send a message to the landlord. All our spaces on Storefront are open to short-term rentals. Moreover, we take care of the insurance ! You have no good reasons not to start not.
Want to get exposure and boot sales? Do it with a Pop-Up Shop!
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Pop-up retail
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HBO Game of Thrones container pop-up in Los Angeles
The Beatles double-decker pop-up shop in New York City
Marmite pop-up shop in London
Pop-up retail, also known as pop-up store (pop-up shop in the UK, Australia and Ireland) or flash retailing, is a trend of opening short-term sales spaces that started in Los Angeles and now pop up all over the United States, Canada,[1][2] China,[3] Japan,[4] Mexico,[5] France,[6] Germany,[7] the United Kingdom and Australia.[8] The pop-up industry is now estimated to be a $50 billion industry.[9] Pop-up retail has been an increasing factor during the retail apocalypse of the 2010s, including seasonal Halloween retailer Spirit Halloween, who has operated stores in vacant spaces during the season.
History Edit
Temporary retail establishments date at least to the Vienna December market in 1298[10] and the European Christmas markets that followed. Seasonal farmer's markets, holiday fireworks stands, Halloween costume shops, consumer expos, and event-specific concessions are other examples of temporary retailing.